2023 Game Changers: Luigi Lazzareschi, Sofidel
As consumer demand for private label products grows, retailers and suppliers continue to up their game bringing to market a bevy of new products across multiple categories. Product launches over the past year show a continued effort to give consumers high value items that offer retailers the opportunity to differentiate from their competitors.
For the third year, Store Brands is honoring those in private label that are pushing the boundaries and driving the industry forward. Below are the people, product innovations and brands that are this year’s Game Changers.
Luigi Lazzareschi, CEO, Sofidel
It was more than a decade ago that Sofidel established a presence in the United States with its Horsham, Pa., headquarters. The goal was to provide retailers with a source of private label products manufactured locally.
During its time in the U.S., the company continued to expand its presence and today has operations in Ohio, Wisconsin, Florida, Mississippi, Oklahoma and Nevada. Over the past two years, company CEO and 2023 Store Brands Game Changer Luigi Lazzareschi has driven the company to invest in technology and personnel to enhance the company’s sustainability efforts.
The result has been business expansion with a focus on offering retailers paper goods that allow them to carry a selection of private brand products that are equivalent to similar items offered by national brands.
And the company’s efforts have not gone unnoticed. In 2022, Sofidel received an ESG Risk Rating of 13.6 from Morningstar Sustainalytics, ranking it first out of more than 120 companies in the Household Products industry. The rating recognized Sofidel for its strong commitment to the preservation of biodiversity, anti-corruption strategies, transparency, and efforts to fight climate change and global warming.
With 1,700 employees across the U.S., Sofidel was also placed in the “Low Risk” category as of August 2022. This recognizes companies with a strong ability to manage the environmental, social and governance risks that characterize the three areas of a company’s responsibility.